WHY DELAY RELEASE OF INAUGURAL RECORDS?

It took some prodding, but Missouri Gov. Bob Holden finally has decided to release records of private fund raising and spending for his nearly million-dollar inauguration, the second-most costly gubernatorial inauguration next to Puerto Rico's of 17 that were held since December and the only one still carrying major debt.

Announcement that the Democratic governor would release the records came Friday from Holden spokesman Jerry Nachtigal only after the Missouri Republican Party pressed Holden for the records by sending him a letter demanding that all private donors, vendors and banking activity related to his January inauguration be made public.

The state's Republicans demanded the records be provided within three business days as the Sunshine Law requires of public-record requests. But Holden and his legal counsel, Glenn Norton, say the records of private fund raising aren't covered by the Sunshine Law, which deals with records of public governmental bodies, and they didn't release the records. Missouri has no law that forces disclosure of inaugural contributions and spending.

The $997,000 inauguration was the most costly in Missouri history. Holden still owes more than $417,000 for the gala, and that is nearly three times the amount he previously had acknowledged owing. The governor had failed to mention a $250,000 loan from a bank and a $100,000 loan from a Clayton, Mo., native who now lives in San Francisco.

Nachtigal wouldn't say when the governor would make the records public. Holden only has said he plans to pay off the debt within a couple of months. Those are two months he should be spending on deciding the fate of legislation that has been sent to him by the just-ended General Assembly instead of raising money to pay off his inaugural debt.

The Associated Press disclosed May 11 that Holden's inaugural committee still owed the money and that pledged donations of between $200,000 and $300,000 hadn't arrived as anticipated, a disclosure that prompted the Republicans' request.

The wire service earlier had asked for all records pertaining to the inauguration, but all the governor released were records pertaining to $125,400 in public money that was used for basics such as lumber and printing invitations and programs for the inauguration, records that are covered by the Sunshine Law.

Holden declined AP's request that he open his books on private spending. Yet the governor told AP he favors full disclosure.

It seems that Holden, a former two-term state treasurer who prides himself on money management, got in over his head with his inaugural bash, and while he may say he favors full financial disclosure, he favors it on his own terms when he is good and ready.